Biomimetic and biohybrid micro/nano‐structures involve the replication and creation of technologies, structures, and materials based on biological systems at the micrometer and nanometer scale. These strategies harness the natural biological principles to develop innovative treatment methods and advanced microstructure devices for noninvasive therapies. In this study, a detailed overview of fabrication processes, magnetically assisted locomotive techniques, and potential applications of biomimetic and biohybrid micro/nano‐machines are presented. The latest advancements in magnetically actuated biomimetic structures, such as annelid‐worm‐like microswimmers, jellyfish‐shaped microparticles, fish‐shaped microswimmers, and walnut‐shaped micromotors are explored. Additionally, the magnetic biohybrid systems, including sunflower seed‐based micro‐perforators, nanomotors extracted from the bamboo stem, sperm cell‐based micromotors, bacteria‐based robots, scaffold‐based microrobots, DNA‐based micromotors, microalgae‐based microswimmers, and red blood cell‐based microswimmers are also examined. A thorough investigation of the magnetically assisted locomotive behavior of these microstructure devices in biological Newtonian fluids, featuring cork‐screw motion, undulatory motion, surface wrinkling motion, traveling wave‐like motion, and ciliary stroke motion is discussed. Furthermore, unprecedented and innovative treatment methods developed using these minuscule devices such as cervical cancer treatment using tetrapod hybrid sperm micromotors, tissue regeneration using silk fibroin protein‐based magnetic microscale scaffolds, and doxorubicin drug delivery using mushroom‐based microrobots is extensively presented.